APN News and Media Limited (ASX:APN)
says its turnaround plan is working with stable revenue of $129.1 million and a 7 per cent jump in EBITDA to $35.9 million in its first half results.
The company has managed to extricate itself from New Zealand Media Entertainment and a planned divestment of Australian Regional Media with the two divisions presented as discontinued operations.
APN also reached a settlement with the New Zealand tax office over its affairs with NZME.
The turnaround strategy continues and APN says an interim dividend will not be paid.